[Alpha Biz=(Chicago) Reporter Kim Jisun] Global investment banks BNP Paribas and HSBC, which were found to have illegally sold 56 billion won in the local stock market, have been accused by prosecutors.

The Seoul Southern District Prosecutors' Office yesterday (3rd) filed a complaint against BNP Paribas and HSBC Hong Kong subsidiaries for violating the Capital Markets Act.

The complaint included claims that their illegal naked short selling essentially violates the fairness of the capital market.

Earlier, the Financial Supervisory Service found that BNP Paribas's Hong Kong subsidiary and Hong Kong's HSBC conducted naked short selling worth 40 billion won and 16 billion won, respectively.

 

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